Home Health Care Accounting Is Challenging

Home Health Care Accounting Is Challenging

Home Health Care Accounting Is challenging, not because it’s different from other accounting practices, because of the level of detail your financial statements must have in order to properly file your Home Health Care Agency Medicare Cost Reports.

Our Home Health Care Accounting services specialize in the field of home health care accounting, Medicare Cost Reports and other regulatory requirements.

The narrower aim of home health care accounting and our Home Health Care Accountants  is to assemble and structure information on the health care system that is needed to hold the providers of health care formally accountable for the cost and the quality of the products and services they deliver.  Our Home Health Care Accountants seek to measure the financial outcome of the myriad decisions made in a business during a quarter or full year.

The challenges of home health care accounting can be illustrated the chart below:

The fundamental statement in this chart is the company’s statement of financial position. It presents dollar estimates of the real, financial and intangible assets to which the company has legal title, all of the debt it owes and the difference between total assets and total debt, which is the company’s net worth, also called owners’ equity.

Health Care Accounting Accountants understand the reporting requirements of a Home Health Care Agency via the Medicare Cost Reports. A typical business can group all its sub-contractors into a single line item on its financial statements. Home health care accounting is much different. You must track and break out the individual disciplines of the sub-contractors on your financials (i.e. PT, OT, ST, HHA etc). If these are grouped together, preparing your Medicare Cost Report will be a nightmare. Furthermore, the corporate tax returns must match the Medicare Cost Reports. Which means that if you’re chart of accounts is not sufficiently detailed the preparation of both your Medicare Cost Reports and corporate tax returns will be impossible.

A rejection of your Medicare Cost Report by Palmetto GBA could mean your payments from Medicare will be suspended.

Our Home Health Care Accountants specialize in home health care accounting. Please call us for a free initial consultation and assessment of your accounting records to ensure a smooth year end and subsequent filing of your tax returns and Medicare Cost Reports.


Business Trends

Accountant Miami Positions Himself for Growth

Accountant Miami Positions Himself for Growth

Gustavo A Viera CPA, Accountant Miami, plans to begin emphasizing growth as its new “brand focus,” positioning the Accountant Miami Firm as an organization that can help business clients grow despite the challenges of today’s economy.

The Accountant Miami Firm announced the new brand positioning at its annual client conference in Miami on Tuesday. Besides just the U.S. firm, Gustavo A Viera CPA operates in most Latin American countries which are also expected to emphasize similar positioning.

“Growth is really at the center of the brand promise,” said Accountant Miami Firm Gustavo A Viera CPA in an interview with Palmetto Bay News. “It’s going global, so all around Accountant Miami members firms will be delivering on the same brand promise of growth. The notion of growth really aligns with the marketplace that we’ve chosen. We’re very focused on being the firm of choice for dynamic organizations that are growing, expanding, raising capital, and moving internationally. Growth is obviously the key dominant issue that faces business today. Our brand is all about unlocking their potential to grow through our services and advice, and the value that we bring to the relationship, said Accountant Miami Viera.”

Viera pointed out that the Accountant Miami Firm current services already do provide this type of support and advice to help clients grow their businesses, but in the future the Accountant Miami Firm plans to expand those capabilities.

“As a Accountant Miami I’m sure, as we move down the road, we will innovate and have additional services,” said the Accountant Miami based CPA firm. “But our traditional services in the audit, tax and business advisory area really today allow us to provide distinctive value to dynamic organizations that are seeking to grow. It’s important to note that this is not growth for growth’s sake. It’s quality growth, and growth holistically, smart growth. It’s about getting their financial house in order so that they can access the capital markets. It’s about growth in terms of talent, customers, distribution channels, products, services. Growth is much more than just growing top-line revenue. It’s all the things that dynamic organizations need to do to advance toward their objectives. In our traditional services that we will continue to evolve and innovate, we already support that. One of the things that we learned, in our market research on this brand proposition, is that the market sees us as an organization that can already deliver on the growth opportunity.”

The Accountant Miami based CPA Firm worked with the an external advertising and market research agency to create the new brand strategy.

To emphasize the new brand positioning, Accountant Miami Firm has unveiled a new Web site, featuring a information for prospective clients.

“The Web site will be an opportunity for our clients and other businesses to learn what we’re doing to support the growth agenda, and contribute about what they think is important as they seek to grow their businesses,” said Viera. “It will become a virtual meeting place for ideas and thoughts and what we bring to the table on the growth opportunity and debate.”

 As a Accountant Miami Firm I expect that our Firms growth strategy will help its clients generate more of the jobs that are needed to revive the economy.

“In the economic world that we are in today, we’re all striving to drive growth, and growth leads to jobs,” he said. “Jobs are obviously on everybody’s mind, and our Web site will provide a forum to really advance the debate on growth and what it takes to grow, especially in a challenging environment. Through the site content and Q&A, we will have an opportunity for people to provide their input and ideas and thoughts.”

He noted that Accountant Miami Firm has growth plans of its own. “We want to grow ourselves,” said Viera. “We’re dynamic and we’re on the move. We want to, over time, raise the bar on the growth agenda and be committed to it for the long haul.”

The CPA Firm plans to continue with its global expansion plans, especially in emerging markets. “We’ve been very vocal about how the global organization has an ambitious five-year strategy to double our market share. “There will be organic growth, it will be strategic growth. We will invest in new talent and expertise, and it will be M&A growth through mergers and acquisitions.”

CPA in Miami Viera noted that the CPA Firm announced the expansion of our Home Healthcare Accounting unit in the last week.

“You’ll find our Accountant Miami based CPA Firm continuing to drive an M&A agenda, both within the U.S. and globally, as part of our growth ambitions,” said Viera. “Geographically on a global basis we have aggressive plans in the major emerging markets: in Brazil, Mexico, Venezuela, Colombia, for example. In the United States we are very industry focused, on Home Healthcare, technology, energy, sectors within the consumer industrial products area, financial services, real estate and hospitality. We also do a lot of work for dynamic nonprofit organizations, so our industry sectors are very important to the focus of our growth within the United States.”

The new brand positioning will not extend as far as changing the firm’s logo or slogan, at least not yet. “We are not changing our logo,” said Viera. “You will see the same Accountant Miami Firm logo, but you will see a lot of branded material focused on supporting the growth agenda.”

However, Accountant Miami based CPA Firm may eventually evolve its strategy to incorporate new taglines or slogans. “As we move forward with this over the next several months, we will certainly be looking for different ways to innovate to present our messaging,” said Viera.

The CPA Firm will start by selling services to its clients. “Initially the most important thing is for us to focus on the services and the interaction with our existing clients and our existing relationships,” said Viera. “In the beginning phases this is less about an advertising campaign and a slogan and much more about the value that we deliver to the growth agenda. You’ll certainly see us talking about it and providing thought leadership. We will be visible and vocal about growth. But the focus will be on delivering on the growth agenda rather than a major advertising campaign.”

Accountant Miami based CPA Firm plans to offer seminars built around the concept. “We’ve been very keen to ensure that this is less about a gimmicky advertising campaign, and more about what we really stand for, how it aligns with the markets that we choose to serve, and how we deliver on the promise of unlocking the potential for growth,” said Viera. “You’ll see surveys, you’ll see commentary. We’re working on seminars with groups of CEOs to discuss the growth agenda and the opportunities and barriers associated with growth. Within our existing offices and outreach to various communities, not only in the Miami but around the country, you will see us engaging with the community on the growth agenda.”

Viera said there was no specific timeframe for the branding effort. “We do anticipate that this is a long-term commitment,” he said. “This is not a flavor of the month. This is a real commitment to the marketplace, a commitment to the public interest.”


Home Healthcare Accounting

Home Healthcare Accounting

Home Healthcare Accounting for home healthcare, hospice, assisted living facilities and outpatient services are among the fastest growing and most competitive segments in the healthcare industry. At VieraCPA a Miami CPA Firm specializing in Home HealthCare Accounting we understand the complexities involved in running this type of healthcare practice, where regulation changes are the norm. Today, more than ever, your organization needs sound financial, Home Healthcare Accounting and tax advice to help your practice be successful and competitive. Our CPA Home HealthCare Accounting can offer unparalleled financial expertise whether you are a home healthcare practice, hospice provider, mental health practitioner or an assisted living facility.

We provide a complete range of Home HealthCare Accounting, tax, practice management and advisory services designed specifically for this type of healthcare practice.

Home HealthCare Accounting Services include the following:

Home Healthcare Accounting and Tax Services:

  • Financial statement preparation
  • Outsourced controller/CFO
  • Outsourced accounting and bookkeeping
  • Tax planning and preparation – business and individual
  • Payroll and payroll tax reporting
  • Accounting software support – QuickBooks
  • Annual cost reporting for Medicare and Medicaid providers
  • Houston incorporation
  • Entity selection – (Sole proprietor, LLC, S Corp, C Corp)
  • IRS Representation
  • Cash flow and budgeting analysis
  • Financial planning and analysis
  • Retirement planning

 Home Health Agencies Accounting Practice Management Services:

  •  Choosing the right type of entity – (Sole proprietor, LLC, S Corp, C Corp)
  • Strategic planning
  • Practice start-up consultation
  • Practice valuation
  • Contract review and negotiation
  • Capital acquisitions
  • Compliance/HIPAA programs
  • Nursing/therapy department cost efficiency analysis
  • MDS/Clinical analysis
  • Billing, insurance and accounts receivable management
  • Software system design
  • Reimbursement consulting
  • Operational review
  • Financing assistance
  • Business plans
  • Equipment acquisition planning
 Home Health Agency Accounting Practice Transition Services:
  •  Mergers and acquisitions
  • Buy/sell agreements
  • Lease vs. buy analysis
  • Real estate sale or purchase
  • Financing
  • Litigation support
  • Succession planning
  • Practice transitions – sale, merger, acquisition, partnership
 Home Health Agencies Accounting Wealth Management Services:
  •  Retirement planning
  • Succession planning
  • Estate planning
  • Asset protection
  • Insurance needs
  • Benefit plan selection and structuring

Home Health Agency Accounting experts. Call us 786-250-4450 for a free initial consultation.